Sadbhav Engineering Ltd Signs Master Restructuring Agreement with Majority Lenders

Key Highlights

• Sadbhav Engineering Limited has signed a Master Restructuring Agreement (MRA) with a majority of its consortium lenders.
• The MRA is in relation to debt aggregating to Rs. 1,516.71 Crores, comprising of a fund-based exposure of Rs. 906.35 Crore and non-fund based limits of Rs. 610.36 Crore.
• The fund-based exposure will be restructured as convertible debentures.
• The MRA provides for additional lenders to accede to the agreement at a later date.
• The MRA has been executed to formally record the terms of the restructuring plan prepared in accordance with the Reserve Bank of India's stressed assets restructuring framework.